Why Is Standard Oil John D. Rockefeller Unreasonable Monopoly

145 Words1 Pages
May 15, 1911, the United States Supreme Court has declared that Standard Oil to being an “unreasonable” monopoly and orders the company to be dissolved under the Sherman Antitrust Act. Founder of Standard Oil John D. Rockefeller entered the oil industry during the 1860s; and working alongside his business partner was able to create a oil empire. A ruthless businessman, he used his wealth to buy out the competition and as the company expanded they receive benefits such as discounted rates from railroads. By the year 1882, he controlled almost every aspect of the oil industry: distribution, marketing, refining, you name it he has complete control of it. He eventually controlled almost 90% of the United States oil production. His ruthless actions
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